» Aeternity Partners with Uruguay Can to Track Cannabis Production Using Blockchain
Uruguay Can, one of South America's leading cannabis companies, and Aeternity, an open source blockchain company for decentralized applications, have teamed up to develop a platform for managing the supply chain. supply based on blockchain technology.
The collaboration will allow monitoring and registration of cannabis strains from the initial stage of the seed to the final product. In particular, this process will involve the combination of blockchain technologies and the Internet of Things (IoT) in the generation of decentralized applications.
Pablo Coirolo, CEO of Aeternity, said that blockchain technology is essential to the trust and safety of the quality of cannabis for recreational and medical purposes.
"We want to be the first to offer a business-level solution in partnership with leading technology providers and producers, processors and distributors of cannabis," said Pablo Coirolo, CEO of æternity Americas. "Æternity technology is ideal for tracking the entire process of cannabis production, from seed to full plant growth, all along the supply chain, which ensures consumer safety while complying with regulations.
Legalization of cannabis in Uruguay
In 2013, Uruguay had the audacity to be the first country in the world to fully legalize the sale and production of cannabis.
The first phase of implementation of the project is scheduled for October 2019, while the entire implementation is scheduled for the middle of 2021.
Eduardo Blasina, CEO of Uruguay Can, welcomed this initiative. He stipulated:
"We are proud to be the first company in Uruguay to be able to guarantee the quality of our products in a transparent and verifiable way. [...] The ability to locate the source and how cannabis is produced is beneficial for both the cannabis industry and the pharmaceutical industry, as well as for its consumers and end-users, who should feel more secure about the product they consume. "
Blockchain technology has transformed various sectors. For example, Waste2Wear recently announced its intention to use the character string to track the conversion of ocean plastics to eco-fabrics.
Image via Shutterstock